EverWest Continues Seattle Multifamily Push with $54.5M Muir Apartments Acquisition
Brings local EverWest multifamily investment activity to more than $113 million in less than 30 days
May 17, 2022
EATTLE, WA (MAY 17, 2022) – Denver-based EverWest Real Estate Investors (“EverWest”) is quickly expanding its Seattle multifamily investment footprint with the $54.5 million purchase of Muir Apartments, located in the heart of Seattle’s Central District. The apartment acquisition follows quick on the heels of EverWest’s April purchase of Junction Landing and Junction Flats apartments in West Seattle.
This new activity represents almost $113 million in Seattle-area multifamily investment in just 30 days by EverWest, who is already an active office and industrial developer across the Pacific Northwest.
“Seattle’s population, job growth and quality of life are driving multifamily demand,” said EverWest Managing Director of Acquisitions Tom Stover, who directed the Muir Apartments acquisition on behalf of EverWest. “The Muir Apartments asset was an opportunity for EverWest to continue to gain exposure in a high-quality, high barrier to entry urban market at an attractive basis.”
Dylan Simon, Winslow Lee and Jerrid Anderson of the Simon Anderson team of Kidder Mathews represented the Muir Apartments building seller and developer, Daly Partners.
Built in 2019, Muir Apartments is a modern, Class A urban mid-rise community totaling 130 units and including 12,266 square feet of ground-floor retail anchored by a boutique grocer. The seven-story building offers studio, one- and two-bedroom units with an average unit size of 609 square feet. Residents at the property enjoy a high-end amenity package, including a rooftop deck with views of the Seattle skyline and Mount Rainier.
Muir Apartments is located at 1601 S. Lane St., minutes from downtown Seattle and surrounded by a diverse and walkable mix of restaurants, retail and cultural attractions. The property is directly accessible to transit and proximate to both I-5 and I-90.
EverWest, a leading real estate investment management firm, currently owns more than 950,000 square feet of office, industrial and multifamily space in the Pacific Northwest. EverWest continues to seek investment opportunities in the region across all property sectors.
About EverWest Real Estate Investors LLC EverWest Real Estate Investors (“EverWest”) is a real estate investment advisor providing investment management services throughout the U.S. including acquisitions, asset management, development and property management for our investors. With $4.7 billion in assets under management, EverWest clients invest through separately managed accounts and commingled funds. The firm is headquartered in Denver with regional investment offices in New York City, Charlotte, Los Angeles and San Francisco metro areas. EverWest is an affiliate of Sagard, a leading global alternative asset management platform within the Power Corporation of Canada ecosystem. For more information, visit www.everwest.com.